Revenue grew 43% to $4 billion Adjusted net loss of $520.2 million or $3.06 per share Operating cash flow remained in the negative territory at $129.6 billion Total vehicle production rose 55% sequentially to 53,339 units in Q2, while shipments jumped 80% to 40,740 units Expects to produce 50,000 to 55,000 Model 3 vehicles in Q3, by producing 6,000 Model 3 vehicles per week by late August, and also to increase production over the next few quarters beyond 6,000 per week. For visualization/Infographic - Tesla Q2 2018 earnings | AlphaStreet
Should be an interesting call - they've got head of AI, Karpathy on tap as well as other interesting executives.
On the earnings call now. I find it so hilarious, in a mostly positive way, that Elon can't help but toss in gee-whiz tidbits during his earnings review like "oh, BTW, did you know you can drag the icon down in map view and the car will automatically start driving to your home or work depending where you are? Pretty cool."
"Plop in the new computer [chip], all the same connectors, and you gain an order of magnitude in computing power. It's super kick-ass." Oh Elon, not your father's CEO...
Way to go, Elon, for apologizing to both people he was rude to on the last earnings call. No coincidence they were given two of the first questions on this call. There was a lot of concern in the media about Elon's increasingly erratic, stress-induced behaviour. He's still being Elon, but he's not as needlessly combative on this call (so far!).
I think he was honestly surprised. Expected more combative behaviour from Elon. Weird questions though, I agree.
Elon doesn't think about a weaponized autonomous car but it's not hard to think of an application: Timothy McVeigh could stay home and enter Alfred P. Murrah Federal Building in downtown Oklahoma City as a bombing destination. The only problem with that is a Tesla car is more expensive than an ICE is so terrorists might need money from very rich countries such as Saudi Arabia.
That hasn't seemed to be a problem to date so there's that... To be clear before I get jumped, terrorism is awful and yes I did suggest that Saudi Arabia funds terrorism currently because well... They do... Jeff
Darnit, the call was during my dinner, and although it's over now, they don't have the archived version up yet. Also no transcripts yet. I guess I have to listen to it tomorrow.
Oh, dear god, no. Did they ask dumb questions again? Well, I hope it helps with PR, since it's not going to help us get information out of the earnings call. :-(
After-hours traders usually like the news, even when it precedes a big drop the next day. I think the professional disinformation spreaders and short sellers work 9-5.
I just wish Musk would sharpen his language skills and stop interrupting and talking over his managers trying to answer questions. It is really annoying when you are trying to hear their answers. You gotta know they would love to throw something at him when he does it. He does it every conference call.
Go back and watch Steve Jobs' first intro of iPhone. He was terrible at presenting; got better with time. I'd rather Elon be great at other things than these conference calls. (I soothe myself with the Jobs iPhone rollout each time Elon fumbles his way through another product launch at Fremont.)